Post more information: picture ideal, description of gears better. Does it have derailleur? In that case 3/32. If it is not using derailleur then 1/4 inch. To get the length right, compare to existing chain.
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ʍǝɥʇɐɯJun 12 '11 at 15:12

Chain length isn't particularly vital -- most chains will come with extra length and you use a chain tool to shorten it to the correct length. This is why so many wrenchers have key-chain fobs made of bits of leftover chain.
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Neil FeinJun 12 '11 at 16:45

@Mathew, I suggest putting that as an answer, as I tried to come up with an answer that says much more and failed. Maybe say "BMX/singlespeed chain" as well as 1/8" (I assume 1/4 was a typo :)
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МסžJun 15 '11 at 1:27

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First one needs to know if this is a derailleur bike or one with a multi-speed hub. Most likely 3/32" (internal width) for derailleur (this would be called a "5-speed chain") or 1/8" (internal width) for the multi-speed hub (this would be a "fixed gear" chain).
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Daniel R HicksJul 19 '11 at 11:17

My first thought is that, if this bike has a front derailer, it'd use the same size chains the old 10-speeds used. But aside from that, I've got nothin'. An interesting question.
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Neil FeinJul 19 '11 at 19:49

1 Answer
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To directly answer your question, no, any chain which is long enough is not compatible with your bike. No one here can tell you what chain will fit without a lot more detail in your question, but this is a good place to start. Daniel posted that link as a comment on my earlier answer.

Ask your LBS. They will know once they see the bike. Or measure the width of the outside chain plates with a vernier caliper on the old chain.